The question I want to ask is, how many of us here, own a property or properties in other countries separate from the property that you own in your homeland? and if not so, how many of us here is open, meaning, would be ready and willing to buy a property or properties overseas?
I would, there are loads of countries where the life cost is way cheaper, so I could build or buy my dream property in Brazil for example.
I would make sure I'm very up to date on another country's political situation, taxation, civil and criminal laws, etc. Sometimes governments seize private property, unfortunately - or otherwise make it difficult or overly risky to invest there.
I'm currently looking for places in the Philippines to buy land. It will be my retirement home eventually. Why the philippines? It's way cheaper and so is labor and raw materials. I also like the fact that there is no permit needed to build anything. The skys the limit in the Philippines.
It would have to depend on the country and how stable their government, economy, and local infrastructure are. It would be a shame to put all that money into a property and it disappear with a regime change, market crash, or natural disaster. There's also the tax situation in both the foreign country and the United States. Of course the "safest" bets are going to be more expensive and result in a smaller profit. "High risk = high reward, low risk = low reward" is a very true statement for overseas investments.
Thanks for giving me your opinion guys, some countries have laws that prohibit other nationals from owning land/s in their country and so I would suggest that you check if there are such laws in the country that you have planned to buy a house in.
I would if I had the capital. It's a great opportunity to purchase a lot of land for cheap, but you definitely have to know whether you have legal standing in that particular country. Not all countries are going to let you buy land as a foreigner after all. Assuming that the legal, political, and social landscape is fine, then i would absolutely purchase land in another country.
I would not buy a home overseas it would be too risky. I would not want to deal with some bad stuff that would come from that country.
Depends entirely on the short-term and probably long-term political stability in the country. There are some places where it would be safer to invest [buy property] because there's no likelihood of there being a revolution, civil war, etc. If I had the money and the laws there allow foreign investors to purchase land or buildings then I'd definitely buy something. But . . . I'd have to personally take a look at what I'm buying. There are too many scammers in the world today,.
Keep in mind, real estate in poor countries may cost just as much as homes in the United States yet they rent for much lower amounts. I would only buy property outside of my country if I actually planned to live there full time.
